Philadelphia's Wachovia Center gets a name change

The Wachovia Center in Philadelphia has been renamed the Wells Fargo Center, owner Comcast-Spectacor announced Tuesday. The change reflects the 2008 merger of the two banks.

Comcast President Peter Luukko said in a statement that the company is honoring a contract guaranteeing naming rights to the holder's successor. The name change is effective immediately, and crews began removing the arena's sign Tuesday. A new sign will be in place for a Lady Gaga concert in September.